Paynetics UK to acquire assets of Wirecard UK & Ireland

Monday 12 October 2020 08:15 CET | News

Paynetics UK, a fintech payment service provider and part of the Paynetics Group, has announced that it has acquired some of the assets of Wirecard UK & Ireland.

The deal will see Paynetics work with corporate customers, who have previously relied on Wirecard for card issuing and payment services, to adopt Paynetics for the continuation of their existing card programmes.

Paynetics is a regulated e-money institution, licensed across the EU and a Principal Member of Mastercard, Visa, SWIFT, and SEPA. It offers next-generation payment technology solutions with an all-encompassing technology stack under one roof, including issuing, acquiring, state of the art payment services, IBANs, money transfers, e-wallets, mobile payments and software POS.

As part of the acquisition, Paynetics will provide its new customers with a secure and seamless transition, together with a strategic product roadmap for the future development of these programmes, which until now faced the prospect of termination.

As part of the deal, Paynetics will power a range of programmes including employee benefits, sales incentive, corporate expenses and social welfare for these organisations. The company has begun engaging with and novating its new customers in order to manage their transition in a way that is specific to the individual requirements of that business.

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Keywords: Paynetics UK, Wirecard, acquisition, card issuing, payment technology
Categories: Payments & Commerce
Countries: United Kingdom
This article is part of category

Payments & Commerce